President Donald Trump and the Chinese government are both touting agreement on a phase 1 trade deal, but Pro Farmer policy analyst Jim Wiesemeyer says history shows that a deal will only matter once it’s in writing.

President Donald Trump signed off on a so-called phase-one trade deal with China, averting the Dec. 15 introduction of a new wave of U.S. tariffs on about $160 billion of consumer goods from the Asian nation.